#StockUpdate | Sun Pharma gains 2% on winning patent infringement case

Shares of Sun Pharma climbed 2 per cent in Thursday’s trade after DUSA Pharmaceuticals, an arm of the Mumbai-based drug maker, received relief from a US court in a patent infringement case.

the stock rose 2.41 per cent to hit a high of Rs 424 on BSE. The gains on the counter have come after three days of consecutive fall. The scrip is down 14 per cent in last one month and 26 per cent for the ongoing calendar so far. On the technical front, the scrip has been trading lower than 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

The company said that Massachusetts-based DUSA has been granted preliminary injunctive relief by a federal district court prohibiting defendants Biofrontera Inc, Biofrontera Bioscience GmbH, Biofrontera Pharma GmbH, and Biofrontera AGf from using its confidential and proprietary trade secret information.

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